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20110701
20110731
Search Results 0 to 6 of about 7 (some duplicates have been removed)
, requires some reforms to be strengthened. we are in big disagreement as to how to do it. >> that is an understatement. democrat favor tax hike within social security and medicare as well as increasing income taxes. budget committee chairman paul ryan argues part of the problem in medicare is the new healthcare law. which claims savings will materialize, and the chief actuary of medicare has the same concerns. >> there is a lot of evidence to suggest some of the payment provisions will not be sustainablsustainable in the lo. >> it pays providers including doctors lower and lower rates. foster says over time it will leave 40% of all providers in the red raising questions about whether they'll treat medicare patients. >> if at some point our payment rate to providers become less or significantly less to the cost of providing services, they either will be unwilling, or unable to continue providing services. >> last year, 51% of medicare's cost was taken out of the general revenue; meaning, half the cost of medicare was paid by borrowing money. which is why it's part of the d
of the need for a course correction. but weeks of negotiations have shown his commitment to big government is simply too great to lead to the kind of long-term reforms we need. >> reporter: reid says lawmakers must find a solution. >> we'll stay in session every day, saturday and sunday until congress passes legislation to prevent the united states from defaulting on negotiation. >> reporter: in chicago, key ally expressed support for the mcconnell-reid plan. >> more work to be done. joint committee can tackle it but it's responsible way out of the crisis. >> reporter: lindsey graham favors constitutional amendment but there isn't enough support in the senate. >> we have the people behind us. 72% of the american people want balanced budget. >> reporter: the president called for shared sacrifice. >> i am still pushing for to us achieve a big deal. but what i said to the group is if we can't do the biggest deal possible, then let's still be ambitious. let's still try to at least get a down payment on deficit reduction. >> reporter: but the cochair of the president's own deficit commission ha
to rein in big government spending and prevent tax increases. >> the majority of the house has to approve spending and that's tremendous leverage. we should use it. >> a political analyst says it has an impact on how far g.o.p. speaker john boehner can go in debt negotiation. >> the existence of the freshmen linked creditability to john boehner when he says there are not enough votes for tax increase. >> reporter: president obama is also feeling the pressure from the left flank saying that social security and medicare may need modification to sustain them for the future generation. >> if there is a reasonable deal to be had on it, one i'm willing to pursue. >> that got a strong pushback from nancy pelosi and other liberals. >> today, the democratic women of congress have come together to send a clear message. we must protect medicare and social security. we will not support cuts. >> reporter: if there are cuts to the program in a final deal, it will be a tough sell to the president with the liberal base, which sees itself as cardigan of the entitlement. molly henneberg, fox news. >> shann
. they think in the long run it will be effective in a big debate like this. bret? >> bret: ed, thank you. stocks were again down today to close what was the worst week in a year. the dow dropped 97, the s&p 500 gave back 8 1/3, the nasdaq dropped 10. fuel to the fire in the debt ceiling debate. peter barnes breaks down the number. >> high gas prices and weak income gains for workers have the economy growing at its slowest six-month pace since the economic recovery began early last year. the government said today that gdp grew at just a 1.3% annual rate in the second quarter, well below expectations. but the shocker was a huge downward revision of the number for the first quarter. growth originally clocked in at 1.9%, but now the government says it grew at just .4 of a president. for the president, the numbers were too bad to ignore, even as he pressured republicans to cut a deal with him on the debt ceiling to help the economy. >> on a day when we've been reminded how fragile the economy already is, this is one burden we can lift ourselves. we can end it with a simple vote. >> the admini
was a big month for american auto makers. cite her says -- chrysler says sales was up 30%. general motors and ford report 10% increases. toyota and honda were off more than 21%. home construction fell 2.1% in may. overall, construction spending was down .6 of a percentage point. it could be four years before the construction returns to healthier levels. manufacturerring activity was up a bit in june after the worth month in two years in may. stocks ended the week on a high note. dow gained 168.5. s&p 500 up 19. nasdaq finished up 42.5. >>> governors in two midwestern states find themselves under fire tonight. one for not getting a budget deal done and another for the budget deal he did get done. correspondent mike tobin has that story from chicago. >> with protesters already outside his door, ohio republican governor john kasich dove deeper in controversy signing a budget that closes a $6- to $8 billion budget gap with deep and painful cuts. hardest hit are private nursing homes with a #% reduction in medicaid funding. the powerful ohio healthcare lobby responded with a dramatic add campa
Search Results 0 to 6 of about 7 (some duplicates have been removed)